Agreement on Climate Change, Trade and Sustainability

Debate between Lord Grimstone of Boscobel and Baroness Blackstone

Monday 11th January 2021 Lords Chamber

[Lord Grimstone of Boscobel (Con)]

My Lords, the noble Lord is completely right to make this point. We want our generation to be the first to leave the world in a better state than we found it. Working on agreements such as this is an important component of that.

[Baroness Blackstone (Ind Lab)]

My Lords, do the Government anticipate any problems in complying with the commitment made by the ACCTS countries to abolish tariffs on environmental goods and services?

[Lord Grimstone of Boscobel (Con)]

My Lords, we have already abolished tariffs on, I think, 100 new environmental goods and services. We keep this subject under close review and consult the relevant bodies on it. Where we can do further liberalisation, we would like to do so, of course.

Japan Free Trade Agreement

Debate between Lord Grimstone of Boscobel and Baroness Blackstone

Thursday 17th September 2020 Lords Chamber

[Lord Grimstone of Boscobel (Con)]

I thank the noble Lord for his comments. To answer the second part of his question, there is an obligation on the Department for International Trade to ensure that the benefits of these agreements—in due course, when they are signed and ratified—are well known throughout the UK. For example, the Japan agreement has huge benefits to our SMEs, which are the backbone of our economy. To put it in the nicest way, what would be the point of negotiating these agreements if we did not bring these benefits home to businesses throughout the United Kingdom? A lot is going on with the trans-Pacific partnership accession. Since July 2018, we have engaged with all 11 member countries and recently had a meeting between the Secretary of State and her counterpart in Mexico, attended by all heads of missions of the CPTPP. The tone of the meeting was warm. We are very much encouraged by the members of the CPTPP to pursue our contact with them, and I have no doubt that that contact will in due course lead to an accession request being made to the trans-Pacific partnership.

[Baroness Blackstone (Ind Lab)]

My Lords, does the Minister agree that the trade deal with Japan will boost our GDP by only 0.07%? Will he tell the House how that compares with the economic cost of losing our free trade with the European Union, given that we still seem far from achieving a comprehensive trade agreement with it?

[Lord Grimstone of Boscobel (Con)]

I thank the noble Baroness for that question. Of course, this has a smaller economic benefit than our arrangements with the EU, but I think it is right to gain economic benefit wherever we can. It would seem churlish not to want to pursue a Japan free trade agreement purely because it was smaller than a European free trade agreement. The full benefits of this agreement will be available to the House once the agreement and our impact assessment are published, and I ask the noble Baroness to wait until that happens and, perhaps, consider it then.